James River Group (NASDAQ:JRVR – Get Rating) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.
Separately, Barclays increased their target price on James River Group from $24.00 to $25.00 and gave the stock a "maintains" rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.40.
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Shares of JRVR opened at $24.16 on Friday. James River Group has a 12-month low of $19.76 and a 12-month high of $39.60. The business's fifty day moving average is $23.88 and its 200 day moving average is $23.86. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.37. The stock has a market cap of $904.79 million, a P/E ratio of -11.84 and a beta of 0.34.
James River Group (NASDAQ:JRVR – Get Rating) last issued its earnings results on Monday, August 1st. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.03. James River Group had a negative return on equity of 8.56% and a negative net margin of 9.55%. The company had revenue of $184.81 million for the quarter, compared to analysts' expectations of $200.07 million. During the same period last year, the business earned $0.54 EPS. James River Group's quarterly revenue was down 3.5% compared to the same quarter last year. Sell-side analysts anticipate that James River Group will post 1.95 earnings per share for the current fiscal year.Institutional Investors Weigh In On James River Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC purchased a new stake in James River Group in the 2nd quarter valued at $25,000. Point72 Hong Kong Ltd raised its position in James River Group by 218.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,654 shares of the insurance provider's stock valued at $41,000 after buying an additional 1,135 shares during the last quarter. Captrust Financial Advisors increased its position in shares of James River Group by 326.0% during the 2nd quarter. Captrust Financial Advisors now owns 1,968 shares of the insurance provider's stock valued at $49,000 after purchasing an additional 1,506 shares during the last quarter. KBC Group NV purchased a new stake in shares of James River Group during the 2nd quarter valued at $79,000. Finally, Mutual of America Capital Management LLC increased its position in shares of James River Group by 17.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 6,289 shares of the insurance provider's stock valued at $156,000 after purchasing an additional 915 shares during the last quarter. 99.58% of the stock is owned by hedge funds and other institutional investors.
About James River Group
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James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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